Epf

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2014 Is it compulsory to deduct PF after 1 Sep'2014 of the employee's whose draw salary Rs.15000? If it is compulsory it has to be deduct in basic or gross?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 November 2014 yes.PF applicable for the employees comes Rs.15000/- salary limit. PF apply on basic only

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2014 Thank u for your reply

One more question
Is PF is mandatory for a fresher or for a staff who has joined before 1st Sep'2014 and was not having a PF A/c from previous employer?

If yes then what should be his/her basic salary? Please elaborate it with example.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 November 2014 incase due to change in the PF limit employee falling under PF compliance then you have to apply for new PF number for them. such as case basic salary for PF is Rs.15000 or actual basic which ever is less

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2014 Suppose if a person is drawing Gross salary Rs.18500/-p.m.and his basic salary is Rs. 6500/-. Is PF is applicable for him as he is not a PF member earlier.

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2014 Sir,

Please reply soon as we have to complete our Salary Work.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 November 2014 If a person drawing salary of Rs.18500 and basic salary Rs. 6500/- he is also covered under PF since the basis is less than Rs.15000

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2014 If a person is drawing salary Rs18500/- & his basic is 6500 & is a PF member from last 1 year, In this case should we continue him with pf facility on 6500*12% or can we opt him out of pf.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 November 2014 once become PF member you cannot opt out any member,need to continue with pf calculation on Rs.6500/-

Querist : Anonymous

Querist : Anonymous (Querist)

11 November 2014 A person who was not a PF member earlier, from last 1 yr we are showing his basic as a 12250, Washing Allowance 250 (Total Gross Salary 12500/- p.m)

Now as per new rule we have to cover him under PF, can we decrease his basic to Rs. 6500/- and deduct PF on that amt?